Dominican Republic: Wood Tool Market 2025

Wood Tool Market Size in the Dominican Republic

The Dominican wood tool market skyrocketed to $X in 2021, jumping by 89% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a strong increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Wood Tool Exports

Exports from the Dominican Republic

Wood tool exports from the Dominican Republic plummeted to X tons in 2021, which is down by -31% compared with the previous year's figure. Over the period under review, exports saw a slight curtailment. The most prominent rate of growth was recorded in 2014 when exports increased by 513% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, wood tool exports shrank remarkably to $X in 2021. In general, exports saw a pronounced downturn. The growth pace was the most rapid in 2014 with an increase of 468%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Haiti (X tons), the United States (X tons) and the UK (X tons) were the main destinations of wood tool exports from the Dominican Republic, with a combined 70% share of total exports. Guyana, Turks and Caicos Islands and Jamaica lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Jamaica (with a CAGR of +491.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wood tool exported from the Dominican Republic were the UK ($X), the United States ($X) and Haiti ($X), together comprising 83% of total exports. Jamaica, Guyana and Turks and Caicos Islands lagged somewhat behind, together comprising a further 16%.

Jamaica, with a CAGR of +297.2%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average wood tool export price amounted to $X per ton, reducing by -39.1% against the previous year. Overall, the export price continues to indicate a slight decline. The growth pace was the most rapid in 2020 when the average export price increased by 85%. As a result, the export price attained the peak level of $X per ton, and then dropped rapidly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Turks and Caicos Islands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+25.7%), while the prices for the other major destinations experienced a decline.

Wood Tool Imports

Imports into the Dominican Republic

In 2021, the amount of tools of wood imported into the Dominican Republic surged to X tons, rising by 117% against the previous year's figure. Overall, imports saw a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, wood tool imports surged to $X in 2021. In general, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Honduras (X tons) and Brazil (X tons) were the main suppliers of wood tool imports to the Dominican Republic, with a combined 92% share of total imports. These countries were followed by Venezuela, Mexico and the United States, which together accounted for a further 7.9%.

From 2012 to 2021, the biggest increases were recorded for Venezuela (with a CAGR of +132.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wood tool suppliers to the Dominican Republic were China ($X), Honduras ($X) and Brazil ($X), with a combined 89% share of total imports. These countries were followed by Venezuela, Mexico and the United States, which together accounted for a further 11%.

Venezuela, with a CAGR of +102.1%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wood tool import price stood at $X per ton in 2021, which is down by -20.4% against the previous year. Over the period under review, the import price continues to indicate a abrupt descent. The pace of growth was the most pronounced in 2020 when the average import price increased by 32%. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+17.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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